The deadline to purchase crop insurance protection for the 2000 crop year expires today, March 15, 2000. Grassley worked last fall to provide $400 million for increased federal crop insurance subsidies to ease the financial burdens farmers are facing during the record-low downturn in the farm economy. The USDA's Risk Management Agency estimates the funds will provide approximately a 25 percent premium discount for family farmers.
"Farmers have the opportunity to control their own destiny," said Grassley, the only working family farmer in the U.S. Senate. "They can make a decision this very day to protect their bottom line against weather- and market-related downturns in the farm economy without relying on the whims of Congress to come through with emergency assistance."
In other farm news, Grassley said he was pleased the USDA has issued rules to bring transparency to livestock marketing.
"I intend to watch carefully to ensure the USDA follows the intent, spirit, and letter of price discovery legislation I helped pass last year," said Grassley. "The independent producer can use market transparency to compete on a more level playing field with the mega-producer."